Markets Overview:

UK 100 called to open Flat at 5454.  A rebound from overnight lows came as Donald Trump gave fresh hope Russia and Saudi will end their oil spat soon, saying “I think they’ll come up with something.” Vladimir Putin toned down his defiance and said Moscow should work to calm the situation.  Also driving sentiment will be the news that China has responded to downplay allegations by the U.S that suggested the number of victims of coronavirus in China was significantly higher than quoted.  It was a mixed session in Asia which saw the Nikkei bouncing from early losses to close out the session down 1.3% at 17,818, it was a similar pattern in Hong Kong seeing an early fall recover to, what turned out to be a green day, closing 45 points higher at 23,131, and this was also matched in CHina, seeing the CSI mirror the Hang Seng to close 39 points higher, at 3,714.  On the above news of easing in oil tensions oil jumped out of hours to trade 7% higher at $23.8 per barrel (Crude).  Traditional safe haven gold took a step back overnight to trade at $1587.

Company News:

AstraZeneca update that the divestment of Movantik to RedHill Biopharma has been completed.

Bunzl announce that they will no longer pay a final dividend for the year ended 31st Dec 2019. They also state their foodservice and retail sectors are expected to be significantly affected by store closures and have withdrawn their previous guidance issued for 2020.

Centamin announces the appointment of Martin Horgan as CEO effective from the 6th of April.

Centrica have cancelled their proposed 2019 Final dividend payment of 3.5p in the wake of COVID-19 outbreak. They have also taken action to cut capital expenditure by £100m for 2020.

Domino’s Pizza Group announces the appointment of Neil Smith as Interim CFO with effect from 15th April.

Halma announce that their Chief Executive Paul Simmons will leave the company in July 2020 to work for Hill & Smith.

National Express announce that Matt Ashley will step down as Director from the company from tomorrow to take up the role of CFO at William Hill.

Reporting Today:

FCA has asked UK companies to delay results

for at least two weeks to prevent investors acting on out-of-date information

Reporting Tomorrow:

FCA has asked UK companies to delay results

for at least two weeks to prevent investors acting on out-of-date information

In Focus Today:

US – Trade Balance

US – Initial Jobless Claims

US – Factory Orders

Todays’s Ex Dividends:

UK 100 :

Smith & Nephew

Mondi

Melrose

Phoenix Group Holdings

Standard Life Aberdeen

:

Chemring Group

Moneysupermarket

Provident Financial

IMI

Man Group

ConvaTec Group

CLS Holdings

TP ICAP

Quilter

Softcat

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